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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: smolejv@gmx.net who wrote (18158)	4/13/2002 7:18:01 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Just ran across this data yesterday. I need to keep better track of the things that make me say "holy Shit!" This is one. I'll post the other later. mason.gmu.edu Notice the big jump at 1921 - that's probably due to deliberate deflation as a response to hyperinflation in Germany (also Austria, Poland, can't remember where else, which blows my theory that hyperinflation was a response to the occupation of the Ruhr). This data calls into question the theory -- which I don't believe, anyway -- that the 1929 crash caused the Great Depression. What happened to banking in 1934 to stop the failures? Well, maybe it's deposit insurance, enacted January, 1934. Or maybe it's the government shutting down all the banks in 1933 and auditing them, and not allowing insolvent banks to stay in business.